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Inheritor of a Joint Account
My wife and her mother had a joint account way back before we were married. My wife, being the primary account holder, paid all the taxes on the earned interest. Her mother recently passed away with no Will and no appointed executor. The account has been closed by my wife. Does my wife's father have any legitimate claim to the money that was in the joint account that my wife had with her mother?
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 Anyone can make a claim for anything; whether the laws of a state and the opinion of a court will uphold such a claim is, of course, something to be determined by the court. Ordinarily, unless your father-in-law was a co-owner of the account, he would have no direct ownership claim to it. Your wife, as surviving co-owner, would be the only owner after her mother's death. One exception to that general rule would be a joint account held without rights of survivorship. If there were no rights of survivorship, your mother-in-law's portion of the account would have become part of her estate, and her widower would likely have an interest in the estate's assets.
Published on BankingQuestions.com 10/16/08
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